MetLife Investment Management LLC Cuts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

MetLife Investment Management LLC lowered its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.8% in the third quarter, Holdings Channel.com reports. The firm owned 12,435 shares of the financial services provider’s stock after selling 230 shares during the quarter. MetLife Investment Management LLC’s holdings in Kinsale Capital Group were worth $5,789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KNSL. Artemis Investment Management LLP acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at approximately $25,476,000. Westfield Capital Management Co. LP lifted its holdings in Kinsale Capital Group by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after acquiring an additional 58,971 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after purchasing an additional 57,460 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Kinsale Capital Group by 14.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after purchasing an additional 52,218 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Kinsale Capital Group by 76,986.9% in the 3rd quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock valued at $21,892,000 after purchasing an additional 46,962 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

KNSL has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Jefferies Financial Group raised their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets upped their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada cut their price target on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $456.88.

Kinsale Capital Group Trading Down 1.3 %

Kinsale Capital Group stock opened at $508.44 on Friday. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The stock has a market cap of $11.84 billion, a PE ratio of 28.99, a P/E/G ratio of 2.19 and a beta of 1.09. The stock has a 50-day moving average price of $466.06 and a 200 day moving average price of $437.02. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.31 earnings per share. Equities research analysts predict that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Insiders Place Their Bets

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares in the company, valued at $223,191.57. This represents a 90.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.